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Financial News: Ireland Inflation Eases In August

Ireland Inflation Eases In August

09/08/2022 - 08:01:00 (RTTNews)

(RTTNews) - Ireland's consumer price inflation slowed slightly in August after remaining stable in the previous month, data from the Central Statistics Office showed Thursday.

Consumer prices climbed 8.7 percent year-over-year in August, following July's 9.1 percent steady rate of increase, which was the strongest inflation rate since the second quarter of 1984.

The overall inflation in August was largely driven by a 20.3 percent jump in utility costs. This was followed by a 14.8 percent surge in transport costs due to higher energy prices.

Prices for food and non-alcoholic beverages were 8.8 percent higher in August compared to last year.

The only divisions that showed an annual decrease in August were miscellaneous goods and services and education, the agency said.

On a monthly basis, consumer prices went up 0.2 percent in August versus a 0.4 percent gain in July.

EU harmonized inflation also moderated to 9.0 percent in August from 9.6 percent in the previous month.

Month-on-month, the harmonized index of consumer prices increased 0.2 percent, following a 0.4 percent rise in the prior month.

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